Gabriel Budi Sutrisno · · 1 min readY Combinator-backed shipping startup raises $2.2m
Shipmates, a Philippine-based shipping platform backed by Y Combinator, has raised US$2.2 million in a seed funding round, with participation from Cathexis Ventures, Wavemaker Partners, Taurus Ventures, Capital X, and Sketchnote Partners.
Shipmates CTO David Marquez (left) and CEO Josh Supan / Photo credit: Shipmates
Launched in 2021, Shipmates is an on-demand shipping platform that allows online businesses to book shipments in bulk from different couriers and compare their rates. The company currently partners with six companies: Lalamove, Borzo, Grab, XDE, Entrego, and J&T.
“Instead of shippers booking couriers manually on their phones or physically dropping off packages, their orders feed straight into Shipmates, and they can pick a courier for shipping from there,” Shipmates CEO Josh Supan said.
The fresh funds will help the company scale up its platform to support more merchants in the Philippines and improve the country’s shipping infrastructure.
Shipmates was part of the Summer 2021 cohort of Singapore-based startup accelerator Iterative. The shipping aggregator also raised US$500,000 in seed funding from Silicon Valley’s Y Combinator.
Valued at US$12 billion, the ecommerce sector was the leading contributor to the internet economy in the Philippines in 2021.
See also: Zilingo Philippines delays salaries amid company’s uncertain future
Editing by Miguel Cordon and Jaclyn Tiu
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